REPORT: Lyft is raising $500 million at a $2 billion valuation

This new round of funding would value the car-hailing company at $US2 billion, the Post said, citing documents reviewed by the publication. That’s more than double its most recent $US850 million valuation.

Last month, sources told Re/code’s Liz Gannes that Lyft was looking to raise more money, and that fundraising efforts for the car-hailing company, which has already raised $US330 million, were going well.

Gannes reported:

The ride-hailing company company — which was last valued at $US850 million — is in the midst of its efforts, with what one person close to the situation said was a “significantly” higher valuation. Both that and the amount to be raised are still in flux.

Lyft raised its most recent funding, a Series D round of $US250 million, in April 2014. The round of fundraising was led by hedge fund Coatue Management, Alibaba, and Third Point, with participation from existing investors Andreessen Horowitz, Founders Fund, and Mayfield Ventures.

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